|WHO WE ARE TODAY|
15 THINGS TO KNOW ABOUT THE SCHOOL OF BUSINESS TODAY
1. The School annually brings together thousands of people to share thought leadership on key business topics.
About 600 professionals gained expert perspectives on commercial real estate in February at the University’s fifth annual Real Estate Impact Conference, hosted by the School of Business and the School of Architecture.
In March, more than 700 health care professionals, executives, advisors, faculty and students attended the School’s fifth annual Business of Health Care Conference, themed “Going Global.”
Also in March, nearly 300 people (mostly women) networked with each other and learned from a panel of top female business leaders at the annual Women in Leadership Conference.
Hundreds of industry thinkers also gather at the School’s accounting and behavioral finance conferences.
2. Our students make us one of the country’s most diverse business school programs.
The 2,331 undergraduate and 900 graduate students in the 2015-2016 student body came to the School from 90 nations. In total, 23% of our students came from outside the U.S. and its territories.
39% of the School’s students were women. School students classified themselves as:
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U.S. News & World Report listed the School’s MBA program #5 on its list of those with the highest percentage of minority students and Hispanic Business ranked it the #8 MBA program for Hispanics.
Bloomberg BusinessWeek listed the School’s full-time MBA program as having the highest percentage of black students of any business school participating in its annual survey.
3. We’ve grown!
4. The School is more selective than ever in accepting Full-Time MBA students.
The average GMAT score of students accepted to the Full-Time MBA Program was 643 in 2015, up from 621 in 2011. In 2013, the School accepted 40% of students who applied to the program; last fall, just 23% of applicants were accepted.
5. The 25-year-old School of Business Mentor Program has seen nearly 1,400 mentors and students share advice, counsel and comradeship.
This year, nearly 150 students participated, alongside 135 mentors – 25% of who have volunteered for the program for at least five years (including several who’ve been mentors since year one).
6. Entrepreneurial activities, experiences and support for students are stronger than ever.
The School awarded $54,500 during its annual Business Plan Competition this year, including Grand Prizes of $10,000 each to undergraduate, graduate and alumni winners (read more on page 32). The 14-year-old competition is open to all University of Miami students and alumni.
Mentors and judges in the competition include prominent entrepreneurs, venture capitalists and advisors from around the world, many of whom are members of the School’s Entrepreneurship Programs Advisory Board.
School of Business students in the Entrepreneurial Consulting class have provided consulting services to dozens of entrepreneurs during the past decade-plus, including 12 during the last school year.
The University of Miami is the only Florida school to have hosted auditions for “Shark Tank” twice.
7. The School’s programs offer more opportunities for deep exploration of business topics.
Students can delve into 15 undergraduate majors, 20 graduate degree programs and seven PhD programs. They can choose from 10 different MBA concentrations.
During the past three years, the School has launched 12 new programs, including The Miami Executive MBA for the Americas (a hybrid online and classroom program), the Miami Executive MBA for Artists and Athletes and specialized master’s programs in business analytics, finance, international business studies, management studies with a specialization in leadership and economics.
The interdisciplinary Undergraduate Global Business Studies program, which began in fall of 2014, allows students who meet its requirements to craft a double major that combines a functional business education with region-specific international expertise and cross-cultural competency development.
8. Our students learn in more places than ever.
In addition to study abroad programs, undergraduates and MBA students can participate in international study immersion courses – undergraduates have studied for four weeks during the summer in Paris and Italy, and graduates have participated in courses during spring break in China,
Brazil and India (read more about these trips on page 22). MBA international immersion courses – which only began in 2013 – drew nearly 100 students this year.
Undergraduates who are members of the Hyperion Council make an annual social entrepreneur trip to work with business owners in another country; they have traveled to the Galapagos, Jamaica and the Dominican Republic (see page 12).
Graduate students work on real projects for international companies through a Global Business Consulting program.
Through the University’s Center for International Business Education & Research (CIBER), which is housed at the School, students at all levels have the opportunity to participate in international internships, case competitions and other experiential learning experiences.
9. The School delivers learning in more ways than ever.
Students can earn their degrees fully online through the Master of Science in Finance, Master of Professional Accounting and Online Professional MBA programs. The Miami Executive MBA for the Americas is a hybrid program, which blends distance learning with on-campus sessions. And the Global Executive MBA Program is taught entirely in Spanish. The School also offers online certificates in corporate finance, financial decisionmaking and accounting practices. Faculty members use many of the modules developed for online or hybrid courses as part of traditional courses, an educational trend known as “flipping the classroom.”
Students also have access to more experiential learning opportunities. The Student Managed Investment Fund allows them to manage a real investment portfolio, with students handling every phase from research and executive presentations (including one from the CEO of Ryder System – see page 18) to buying and selling within the portfolio. The annual New York City trip takes students to Wall Street, where they learn on the trading floor and through visits with financial industry professionals. In the UMAP Multidisciplinary Action Projects course, students work with organizations around the world to address pressing organizational challenges through hands-on consulting work. They wrestle with real-life dilemmas in the annual Ethics Bowl and learn while mentoring Citi executives in a reverse mentoring program.
10. As researchers, the School’s faculty members have gained even more acclaim.
School faculty hold 20 editorial board positions with leading academic journals (as defined by the Financial Times). All told, 24 faculty members hold a total of 58 different academic journal editorial board positions – up from 21 faculty with 43 board positions in 2011.
During the past five years, faculty have had 540 papers published in academic journals, including 117 in leading academic journals (as defined by the Financial Times).
Yadong Luo, the School’s Emery M. Findley Distinguished Chair and professor of management, is the world’s #1 international strategic management scholar, according to Management International Review – based on his publications in top academic journals from 2000-2013.
11. When the school year begins this fall, the school will have 95 full-time faculty members – up from 81 in the fall of 2011.
Nineteen of the School’s tenured faculty members are women – up from 12 in 2011 – while nearly 30% of total tenure and tenure-track faculty members are women, giving the School one of the highest portions of female faculty members among Bloomberg Business-Week’s top 50 business schools, according to data published by the Financial Times. The faculty is diverse in other ways, too, hailing from nearly 40 different nations.
12. Business education has never been more in-demand
Students took an all-time high of 32,878 undergraduate credit hours at the School of Business during fall of 2015 – up 28% from four years ago.
Students also took 10,625 graduate credit hours – up 77% from four years ago.
Nearly 20% of all credit hours taught at the University of Miami were taught in the School, second only to the School of Arts and Sciences.
13. The School of Business alumni network is more powerful than ever.
More than 41,000 alumni now live in 130 nations. During 2015, more than 4,000 alumni joined the School at events in 14 cities around the world.
The School’s alumni relations and development department has grown, too, from three people in 2013 to 13 today.
14. The School of Business community has generously supported the School’s work.
Annual giving increased by 17% during the past fiscal year, with a 15% increase in total donors. Corporate donations grew by 223%. During the University’s December 2015 Giving Tuesday and #CanesGiving campaign, alumni increased their gifts by 277% from the previous year, and the School raised the most of any unit at the U, with the second-highest number of giving alumni.
Then, during the University’s Madness in March fundraising competition, the School of Business won first place for the number of donors (more on page 16).
15. The world is beginning to take note. The School earned our highest-ever rankings:
#31 in the Bloomberg BusinessWeek ranking of the nation’s “Best Undergraduate Business Schools”
#47 on Bloomberg BusinessWeek’s list of top full-time MBA programs
#1 Executive Education Program for Latin America, U.S., by América Economia
#7 U.S. MBA program for Latin Americans, by América Economia
Sources: Financial Times, U.S. News & World Report, Bloomberg BusinessWeek, University of Miami Fact Book 2015-2016
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